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Hi Harmy

I looked up resmed in etrade and yes it does look like there is still quite a bit for it to fall(if I look at the cross over of the share price and the moving average - not that I know much about TA only the bit I have gleaned from going to ASX lunch time lectures). It is trading at a PE of over 80 and p/nta at over 9 - so the share is not cheap by any stretch of the imagination.

I have never got interested in charting bcs I thought it is hocus pocus - but I am always willing to learn. Maybe it is another way of determining a valuation - which is a topic that is of major importance in my thinking but it is not something that I am comfortable with - there seems to be too many formulas.

but if I look at the PE of over 80, and p/nta - rmd is not cheap and more of a speculative stock - it is one of my specs, the other one I have is transurban - both are difficult to value. maybe in both cases there is a good argument for the use of TA.

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